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In this video tutorial, the speaker discusses the importance of using split dollar plans as a strategy to reward and retain key employees. Retaining top talent is crucial for business growth and stability. While competitive salaries, retirement plans, and stock options are common retention strategies, innovative approaches are needed to stand out. The speaker emphasizes that having unique benefits can significantly enhance employee loyalty and help retain essential staff until retirement or business transition. Importantly, these benefits should also allow employers to recover costs, making them a viable long-term strategy for maintaining a strong workforce.
